India on Thursday ruled out a Free Trade Agreement with China, until 'domestic distortions' like high taxes and poor infrastructure are corrected.
Tobacco will be subjected to the highest tax slab of 28 per cent and an additional cess. The current rates of taxation on cigarettes and chewing tobacco are about 64 per cent and 81 per cent, respectively.
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
No immediate comment was available from airlines on the impact of the price hike on passenger fares.
Jaitley said the government has created transparent environment.
The government's focus on road, rail and power development will indirectly benefit the FMCG industry in the long run.
Riding on Samson's record-breaking unbeaten 212 off just 129 balls, Kerala posted a mammoth 377/3 on the board and restricted Goa to 153/3 after play was called off due to inclement weather.
According to various senior UB Group officials, the strategy of 14 power brands' focus is expected to be rolled out soon.
ATF or jet fuel price has been cut marginally while rate of non-subsidised cooking gas LPG has been hiked by Rs 27.50 a cylinder.
The government on Wednesday said it would phase out Central Sales Tax by April 2007, a move that may lead Bharatiya Janata Party-ruled states to reconsider their decision of not implementing value-added tax.
ICICI Infotech outsmarted Tata Consultancy Services and Wipro to get the mandate from states for setting up a national tax information exchange system (Tinxsys) to track inter-state transactions and check tax evasion.
The sops being given to the IT firms in metro cities should be extended to companies in tier 2 and 3 cities as it will generate greater employment opportunities and boost growth, industry body Nasscom has said.
The hikes, effective from midnight tonight, are excluding state sales tax or VAT and actual increase will be higher and will vary from city to city
Honeypreet stood in the courtroom with folded hands and pleaded innocence with tears in her eyes.
According to DBS, GST has growth, inflation and fiscal implications.
"This is completely untrue. Please do not re-circulate such message without checking it with authority," Adhia said.
GST is levied on every transaction in the supply of goods and services, barring certain exempted items
The 12th Finance Commission on Monday held a meeting with leading economists and economic administrators in Chennai to elicit their views on current issues concerning inter-governmental resource transfers.\n\n\n\n
Besides, the government would also undertake and promote steps for water conservation and curbing extraction of underground water, which is depleting the water table and is a matter of concern, the minister said.
Ruling out the implementation of value-added tax from June 1, Finance Minister Jaswant Singh on Wednesday announced several excise duty concessions on edible oil and textiles.
Experts have flagged issues regarding the levying of new cess/tax, especially those related to complications in administering the cess.
They say it will have severe impact on their financial strength
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
The Bill was introduced in the Lok Sabha in December.
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